Crude Oil Prices Soar Higher Threatens World Economy

The global economy is facing various obstacles which threaten the recovery of the crisis. The biggest threat is the price of crude oil.CNNMoney, Tuesday, March 22, 2011 report, more than two-thirds of the 23 economists surveyed said that high oil prices are identified as the most serious risks for the global economy.
Unrest in the Middle East and North Africa to raise oil prices by 15 percent in the last two months. Missile attacks and no-fly Libya by the United States and its allies are also pushing gas prices higher.


"Oil prices have been a concern as a threat to the economy, such as the crisis in Japan," said Bernard Baumohl, head of the Economic Outlook Group in Princeton, NJ Baumohl thought high oil prices jeopardize the recovery of consumer purchasing power by pressing and pressing companies. He cuts economic growth forecast for the United States this year nearly one percent to 2.8 percent.

"The economists are very worried about fuel prices will continue to rise, stifling economic growth," wrote reports CNNMoney.In trading Monday, March 21, the price of Brent crude oil May delivery rose U.S. $ 2.26 to U.S. $ 116.19 per barrel. Meanwhile, U.S. crude oil for April delivery rose U.S. $ 2.12 to U.S. $ 103.19.